This is the second acquisition of MedLife Group on the pharmaceutical segment announced in the past two weeks.
CED Pharma is part of a group of companies, which consists of six pharmacies, all located in Bucharest. In 2019, the company registered a turnover of EUR4 million, up 6% on the year.
“The acquisition of CED Pharma is a natural step in the M&A program, as it helps us not only to strengthen our PharmaLife pharmacy division, but also to ensure continuity for our pharma development strategy based on the interdependence between hospitals and pharmacies, as all six new pharmacies are located within or near a hospital,” said Mihai Marcu, CEO and President of MedLife Group.
The deal requires antitrust clearance.
“Once this transaction is completed, the six pharmacies will be integrated in PharmaLife’s own network, reaching a total number of 20 units as we recently added another two pharmacies in the portfolio,” Marcu added.
MedLife said it plans to continue its M&A program in 2021 and is currently discussing with several private medical service providers in Romania. The company added it does not exclude smaller transactions in neighboring countries.